Strata commercial unit at Bukit Timah Plaza for sale at $11 mil

Approaching projects consist of a landmark mixed-use development by Far East Organization as well as Sino Group at the Jalan Anak Bukit Government Land Sales (GLS) site. The joint-venture partners won the 3.22 ha site, located at the joint of Upper Bukit Timah Road and also Jalan Jurong Kechil, with a quote of $1.03 billion ($989 psf per plot ratio) in August 2021. The property will certainly comprise a commercial podium, residential units, serviced condominiums, as well as a new integrated transportation hub.

There is likewise an upcoming site under the 2H2022 GLS Programme located at Bukit Timah Link, which can produce 160 property units.

Bukit Timah Plaza is a mixed-use project that was completed in 1979. It sits on an island site bounded by the Pan-Island Expressway, Jalan Anak Bukit and also Upper Bukit Timah Roadway. The project makes up a four-storey retail block and two residence blocks called Sherwood Towers, with 269 residential units.

Avenir Condo floor plan

To that end, he expects strong attraction in the real estate from local and overseas buyers, consisting of high-net-worth individuals, home offices as well as owner-occupiers.

A strata commercial unit favorably for eating establishment use at Bukit Timah Plaza is up for sale by means of an expression of interest exercise. According to sole advertising representative CBRE, the unit has an overview rate of $11 million.

The building remains in Basement 2, crossing the major central plaza of the retail facility. It has 20m frontage as well as a total strata location of approximately 3,391 sq ft. It is currently totally rented.

Clemence Lee, executive director of capital markets, Singapore, at CBRE, marks that strata-commercial units within the Beauty World sub-precinct are reduced in supply. “Capitalists know that supply of strata-commercial equities will certainly be limited in the future, as the authorities begin to restrict more strata neighborhood of the business element of houses found in crucial main locations,” he includes.

In addition, Lee sees that the renewal taking place in Beauty World will likely increase rental as well as funding appraisal for residences in the area over the medium to long term.

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